India’s benchmark BSE Sensex index  rose 0.1 percent on Monday, enough to post a fifth consecutive winning session, as consumer goods makers such as ITC advanced on hopes slowing inflation and reforms in the upcoming federal budget would boost spending.

Sensex went higher by 40.95 pts to close at 29,135.88; Nifty up 3.85 pts to close at 8,809.35.

India’s wholesale prices declined an annual 0.39 percent in January, their second fall in three months, while retail inflation accelerated in January after shifting to a new base year for calculating prices, but stayed well below the central bank’s target.

Earlier broader gains were however capped in part by companies posting disappointing earnings. Sun Pharmaceutical Industries fell 2.7 percent after posting on Saturday an unexpected fall in its October-December net profit.

The BSE index closed 0.12 percent higher after earlier gaining as much as 0.8 percent.

The NSE index rose 0.04 percent.

Indian equity markets will be closed on Tuesday for a public holiday.

Domestic economy related stocks such as consumer durables gained on hopes of increased spending. ITC gained 3.1 percent while Hindustan Unilever added 1.6 percent.

Market Outlook by Vinod Nair, Head-Fundamental Research, Geojit BNP Paribas Financial Services
Market was volatile today, ahead from tomorrow’s trading holiday and going-on Eurozone meet. Overall uptrend continued in-line with pre budget rally. Whereas, based on Europe market movement we can interpret that investors do not expect Euro & Greece to take extreme action which can impact treaty. Investors expect that both will compromise to make a deal. Volatility will continue till the time the leaders find an harmony. Assuming the same budget will be the most important outcome for India.

Market Wrap Up by Alex Mathews, Head Research, Geojit BNP Paribas Financial Services Ltd
After a strong opening, the markets pared majority of its gains due to holiday and weak European markets. Tomorrow, the Indian Markets may remain closed on account of Mahashivaratri.
The wholesale inflation data which came today fell second time in three month in January.  The wholesales price index stood at -0.39% from 0.11% in the December month. The main reason for fall was the down trend in the oil prices.  The fuel price index fell to 10.69%. The data has renewed the hopes of further rate cutes by the central bank.
Nifty today closed at 8809, up around 3 points.  The market breadth turned to negative as there were seen 1314 stocks advancing against 1598 stocks declining. The Nifty volatility index, India VIX stood at 20.8250 up around 3.59%.
The losers in the sectoral front were Banking and Consumer Durables, which ended down around 1.12% and 1% respectively whereas the gainers were FMCG and Realty which ended up around 1.84% and 0.92% respectively.
In the stocks’ front, buying were seen in ITC and NMDC, which closed up around 3.11% and 2.42% respectively  and selling were seen in Sun Pharma and Axis Bank which closed down around 2.83% and 1.82% respectively.
The FIIs were net buyers in the capital market segment, bought shares worth Rs 390.26 crore on Friday, 13 February 2015. On the other hand the DIIs were also net buyers on 13 February 2014, bought shares worth Rs 95.82 crore as per the provisional data from the stock exchanges.
The European stocks declined as of the Greece bailout talks.  The US index futures were also trading lower.

Sensex ekes out 41-pt gain in fifth day of rise; Greece eyed

(PTI) After surging over 200 points in early trade, the benchmark Sensex pared some gains on caution ahead of crucial Greek debt talks and ended with a slender 41-point rise at two-week high of 29,135.88 today.

Expectations of pro-growth Budget and hopes of more interest rate cuts supported markets, brokers said.

Globally, all eyes are Greek Finance Minister Yanis Varoufakis on Monday meeting his counterparts from the Eurozone in Brussels to seek their backing for an overhaul of the austerity-laden bailout.

Global markets are hoping a deal can be reached before the end of the month, when Greece’s bailout is due to expire.

Failure to agree an extension would see it default on its giant debts and likely mean it would crash out of Eurozone.

The 30-share Sensex hit a session high of 29,325.35 in the first half but succumbed to profit-booking at fag-end and slipped into the negative zone as it hit a low of 29,083.40.

However, gains in FMCG, auto and power shares helped the index settle with a rise of 40.95 points, or 0.14 per cent, at 29,135.88. The gauge has now gathered over 908 points in the five straight sessions.

Also, the National Stock Exchange index Nifty edged up by 3.85 points, or 0.04 per cent, to end at 8,809.35. Intra-day, it shuttled between 8,793.40 and 8,870.10.

During the day, government data showed Wholesale Price Index (WPI) inflation for January declined to a five and a half year low of (-) 0.39 per cent.

Stocks of FMCG major ITC Ltd gained the most among Sensex constituents by rising 3.11 per cent. Its peer, Hindustan

Unilever also notched up a rise of 1.62 per cent.

Others which supported the indices to close in positive zone included TCS, Bharti Airtel, HDFC Ltd, Cipla, Dr Reddy, GAIL, HDFC Bank, M&M, NTPC, ONGC, Tata Steel and Tata Motors.

Sun Pharma, however, suffered the most by falling 2.65 per cent after company reported a 6.92 per cent decline in its consolidated net profit for the third quarter ended December.

Sectorally, the BSE FMCG index gained the most by surging 1.79 per cent, Realty gained 0.97 per cent, Power by 0.61 per cent, Auto by 0.45 per cent, Capital Goods by 0.18 per cent and IT by 0.17 per cent.

Markets are closed tomorrow on account of Mahashivratri.